A year has passed since Britain voted to leave the EU. While negotiations have just begun the markets have been offering their own verdict. 

FTSE 100: Biggest gainers since Brexit

Glencore, Antofagasta, Coca-Cola, 3i have enjoyed the biggest bounce. Meanwhile the biggest laggards are Capita, BT and Dixons Carphone.


Movers_Brexit

FTSE 100: The key actors

HSBC, Shell and British American Tobacco are really driving the FTSE. Together they account for a third of the FTSE’s gains since the referendum. BT is weighing the most on the index.


Brexit_movers_contribution_to_index

FTSE 100: Index weights

 

As this chart shows, the reason is index weighting- HSBC, British American Tobacco and Shell make up a fifth of the FTSE 100 by index weighting. Because of this, the rally for these stocks has been a significant factor in the gains for the broader index. 

UKX_weights

Image credits: Bloomberg

or LOGIN as existing customer


Any information, analysis, opinion, commentary or research-based material on this page is for information purposes only and is not, in any circumstances, intended to be an offer of, or solicitation for, a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any person acting on it does so entirely at their own risk and ETX Capital accepts no responsibility for any adverse trading decisions. You should seek independent advice if you do not understand the associated risks.